Assignment Contract For Wholesaling (Real Estate) Template for Indonesia

The Assignment Contract For Wholesaling (Real Estate) is a specialized agreement used in Indonesian real estate transactions where a property owner wishes to delegate the sale of their property to a wholesaler. This document is particularly relevant when owners seek to expedite property sales through professional wholesalers who have established networks of buyers. The contract must comply with Indonesian property law, including the Basic Agrarian Law (UUPA) and relevant property registration regulations. It typically includes comprehensive details about the property, assignment terms, wholesale period duration, pricing parameters, and conditions for final sale. This type of agreement is commonly used in both commercial and residential property markets, providing a structured framework for wholesale arrangements while protecting the interests of all parties involved under Indonesian jurisdiction.

1. Parties: Identification of the Assignor (original property rights holder), Assignee (wholesaler), and acknowledgment of potential end-buyer

2. Background: Context of the assignment arrangement, including details of the original property rights and intention for wholesale assignment

3. Definitions: Key terms used throughout the agreement, including property-specific terminology and wholesale-related definitions

4. Subject Matter of Assignment: Detailed description of the property and rights being assigned, including property specifications and documentation

5. Assignment Price and Payment Terms: Financial terms including assignment fee, payment schedule, and wholesale markup limitations

6. Conditions Precedent: Prerequisites that must be fulfilled before the assignment becomes effective

7. Assignment Process: Step-by-step procedure for executing the assignment and subsequent wholesale

8. Representations and Warranties: Statements of fact and assurances from both parties regarding their capacity and the property

9. Rights and Obligations: Detailed responsibilities of each party during the assignment and wholesale period

10. Property Documentation: Requirements for handling and transferring property documentation

11. Time Period and Deadlines: Timeframes for wholesale period and completion of assignment

12. Default and Remedies: Consequences of breach and available remedies

13. Termination: Circumstances under which the agreement can be terminated and consequences

14. Governing Law and Dispute Resolution: Applicable Indonesian law and method of resolving disputes

15. Notices: Process for formal communications between parties

16. Execution: Signature requirements and execution formalities